At the end of WWII, the leaders in the Federal Government realized that 16 million Americans would be returning home from foreign postings in a very short time and flood the labor market, recreating the Great Depression that the advent of the war had ended.
To mitigate this, the Congress passed the “GI Bill” which provided educational assistance that doubled the number of college degree holders doubled between 1940 and 1950. Not surprisingly, the diploma became a rite of passage to white collar jobs and the most pervasive symbol of success but at the expense of the trades and other jobs that do not require a degree. Today, many graduates are unemployed, underemployed and struggling with student loans that may take decades to erase.
All the while, trade and blue-collar jobs are begging for workers, paying top dollar, and offering a debt free future. Dr. Scott Galloway in his 90 second “Chart of the Week” suggests that an apprenticeship instead of a sheepskin could be an alternative on-ramp to the American Dream.” As you’ll see, the US is way behind in this.
Note: I don’t normally plug books I haven’t read, but Scott Galloway bats 1000 with me so let me tell you about his new offering: “Adrift: America in 100 Charts”. Check out his brief excerpt of it here. He rarely disappoints. I think this book will provide some refreshing long-term perspective at a time when it’s badly needed.
